Friday, September 15, 2017

Tanzania on new charges in the Arbitration Court for breaking the Eco Energy Project Agreement in Bagamoyo.

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Briefly:
Bagamoyo EcoEnergy Ltd is a special purpose project company formed by Agro EcoEnergy (T) Ltd which is a subsidiary of the Swedish based EcoEnergy Africa AB.


Agro EcoEnergy Tanzania is jointly owned by EcoEnergy Africa AB, Tanzanian Petroleum Development Company (TPDC) and Community Finance Corporation Ltd (CFC) with 93.5%, 5% and 1.5% belonging to each respectively.


The Swedish International Development Agency (SIDA), which committed more than USD 100 million to the project, pulled out from the project recently, after which Agro EcoEnergy Tanzania announced that the project will nonetheless continue.

Source: Case Details
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